WILMER, TEXAS — USAA Real Estate Co. has acquired Dalport Trade Center, a 758,922-square-foot, Class A bulk distribution warehouse in Wilmer, from an undisclosed seller. The industrial property is located next to I-45 at Beltline Road just south of Dallas. Located in the Dalport Industrial Park, the Dalport Trade Center is 2.5 miles from the Union Pacific Intermodal center and 6.5 miles from the FedEx Ground Hub. The building was developed in 2008 by First Industrial as a Class A facility with truck courts, trailer and auto parking and five points of controlled ingress/egress.
Texas
FAIRFIELD AND EUSTACE, TEXAS — Boston Capital is investing in the construction of two apartment complexes in Texas. The first is StoneLeaf at Fairfield, a 49-unit development in Fairfield, 88 miles southeast of Dallas. The second is StoneLeaf at Eustace, also a 49-unit development located in Eustace, 60 miles southeast of Dallas. The developer is StoneLeaf Development LLC, located in Mabank. The developments will be built with tax credit equity from the Low Income Housing Tax Credit program. Both complexes will be available to families and individuals earning 60 percent or less of the Area Median Income. Both complexes will include 13 one-bedroom, 24 two-bedroom and 12 three-bedroom units in six single-story buildings.
ARLINGTON, TEXAS — LMI Capital has arranged a $7.7 million acquisition loan for a 124-unit apartment complex in the Dallas suburb of Arlington. Brandon Brown of LMI worked on behalf of the borrower to obtain a Fannie Mae loan with 80 percent leverage and a 30-year amortization schedule. The first year of the 10-year loan is interest only.
MONTGOMERY, TEXAS – Construction has begun on Montgomery Summit Business Park, a 96-acre, master-planned park located just north of downtown Montgomery near Lake Conroe. Phase I of the development consists of 597,200 square feet of retail, office and office/warehouse flex space. The development will be anchored by an 87,000-square-foot Uncle Bob’s Self Storage, scheduled to open in the spring of 2015.
HOUSTON – Trammell Crow Co. and joint venture partner Clarion Partners have begun construction on a new facility for DB Schenker, which has signed a lease for the entire office/warehouse building totaling 150,000 square feet. The building will be located in Kenswick Air Freight & Logistics Centre, a multi-phase industrial business park developed by Trammell Crow and Clarion Partners near Houston’s George Bush Intercontinental Airport. Munson Kennedy Partnership designed the project and Rosenberger Construction is the general contractor. Glynn Mireles and David Albert with CBRE represented DB Schenker in the transaction.
HOUSTON – NAI Houston has leased a 44,000-square-foot industrial office/warehouse building located at 6028 Navigation Blvd. in Houston’s East End submarket. Clay Pritchett with NAI Houston represented the landlord, East End Holdings Ltd. Realm Professionals represented the tenant, ERA Industries LLC.
HOUSTON – HFF has arranged financing for the development of Market Square Tower, a 40-story, mixed-use tower that will include 463 residential units and 21,000 square feet of retail in downtown Houston. HFF worked on behalf of the borrower, Woodbranch Investments, to secure the loan through Pacific Life Insurance Co. Market Square Tower will be located on 1.4 acres at 777 Preston, comprising a full city block bounded by Milam, Preston, Louisiana and Congress. The project is due for completion in fall 2017, with residences ranging from 550 to 1,950 square feet. Amenities will include two pools, a virtual golf simulator, indoor basketball court, screening room and banquet room. HFF’s debt placement team included Travis Anderson, Matt Kafka and Cory Fowler.
OKLAHOMA CITY – CBRE’s National Retail Investment Group has arranged the sale of Centennial Plaza, a 23,797-square-foot power center in Oklahoma City. CBRE worked on behalf of Kimco Realty Corp., which sold the property to American Realty Capital-Retail Centers of America Inc., a publicly registered, non-traded REIT. Centennial Plaza is 100 percent occupied and anchored by retailers including Home Depot, Best Buy, Gordmans and Guitar Center. The property is located at 5801 N. May Ave. near Oklahoma City’s Nichols Hill and Meadowbrook Acres neighborhoods. It was built in 1992. Chris Cozby, Chris Gerard, Mark Inman and Kevin Holland with CBRE represented the seller.
SAN ANTONIO – Corporate Office Properties Trust has executed a full-building lease with the United States Government for a 160,500-square-foot building under construction in San Antonio’s Sentry Gateway office park. The building will be completed later this year with a lease start date in the first quarter of 2016.
AUSTIN – Sizmek Inc., an open ad management platform company, is relocating its Dallas headquarters to Austin and has signed a 17,077-square-foot lease at IBC Bank Plaza in the Austin central business district. The company already has a sales and operations office in Austin. Endeavor Real Estate Group is developing the 194,749-square-foot, Class A office tower at 500 W. Fifth Street. The office portion of the tower is 90 percent leased. Will Douglas and Jerry Frey with CBRE represented Sizmek. Travis Dunaway and Jonathan Tate with Endeavor represented the landlord.